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Megan Fox is the new co-owner of an iconic lingerie line

The lingerie company, which was bought out of bankruptcy after closing all of its stores last year, has inked a deal with “Transformers” star Megan Fox to be a co-owner and brand ambassador. Terms weren’t disclosed.

Long known for push-up bras, garter belts and teddies, Frederick’s will soon hawk activewear, apparel with sports team logos, a mom-friendly collection designed by Fox — and even a line of men’s underwear, called Fred.inexpensive plus size lingerie

Authentic Brands Group, the licensing firm that bought the company for $22 million, “cleaned Frederick’s up a lot over the past year,” said Chief Executive Jamie Salter.

Fox’s line is described as “sexy comfort” with “fuller coverage,” but the risqué garments the brand is famous for won’t go away.

“There’s a clientele for those items, but there’s also now something for the everyday woman who goes to work and is a mom,” Salter said.

Frederick’s will also offer leggings, sports bras and other workout gear and cater to the growing market for men’s underwear.

The plan to revive the brand includes brick-and-mortar stores in the Middle East, where ABG signed a deal with a partner to open 30 stores over the next couple of years, and in the US within a year.

Founded by Frederick Mellinger in 1946, Frederick’s was the biggest player in lingerie for decades until Victoria’s Secret arrived on the scene in the 1980s.

“I don’t think people have paid attention to Frederick’s for a while now,” said Cora Harrington, founder of fashion blog Lingerie Addict.

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